Teamwork Financial Advisors LLC Sells 118,760 Shares of BitMine Immersion Technologies, Inc. $BMNR

Teamwork Financial Advisors LLC lowered its position in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) by 88.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,486 shares of the company’s stock after selling 118,760 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in BitMine Immersion Technologies were worth $409,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Weiss Asset Management LP boosted its position in BitMine Immersion Technologies by 363.6% in the first quarter. Weiss Asset Management LP now owns 4,328,294 shares of the company’s stock worth $85,614,000 after purchasing an additional 3,394,677 shares during the last quarter. Entropy Technologies LP bought a new position in BitMine Immersion Technologies in the 1st quarter valued at $1,906,000. Dimensional Fund Advisors LP purchased a new stake in shares of BitMine Immersion Technologies during the 1st quarter valued at $4,275,000. Corient Private Wealth LP increased its position in shares of BitMine Immersion Technologies by 89.5% during the 2nd quarter. Corient Private Wealth LP now owns 77,285 shares of the company’s stock valued at $1,029,000 after purchasing an additional 36,495 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of BitMine Immersion Technologies by 612.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 132,063 shares of the company’s stock valued at $2,612,000 after purchasing an additional 113,532 shares during the last quarter.

BitMine Immersion Technologies Stock Down 0.3%

BMNR traded down $0.06 during trading hours on Monday, hitting $21.60. The stock had a trading volume of 22,075,962 shares, compared to its average volume of 40,498,492. The company’s fifty day simple moving average is $23.95 and its 200 day simple moving average is $20.31. BitMine Immersion Technologies, Inc. has a 1 year low of $12.80 and a 1 year high of $55.19. The stock has a market cap of $13.03 billion, a PE ratio of 431.96 and a beta of 1.52.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BMNR shares. Wall Street Zen upgraded shares of BitMine Immersion Technologies from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 10th. B. Riley Financial raised their price target on shares of BitMine Immersion Technologies from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, September 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of BitMine Immersion Technologies in a research note on Tuesday, October 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of BitMine Immersion Technologies in a report on Tuesday, October 6th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $48.80.

BitMine Immersion Technologies Profile

BitMine Immersion Technologies, Inc is a digital asset technology company focused on cryptocurrency mining and digital asset treasury operations. The company has developed expertise in immersion-cooling systems designed to improve the efficiency and operating environment of high-performance computing equipment used in cryptocurrency mining.

In addition to its mining-related activities, BitMine has pursued a strategy centered on acquiring and holding digital assets, including Ethereum. Its business may also include cryptocurrency mining, data-center operations, and related infrastructure and services.